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Economy 2020-02-19T04:01:57+02:00
Ukrainian news
Economy Ministry Estimates GDP Growth In 2019 At 3.3%

Economy Ministry Estimates GDP Growth In 2019 At 3.3%

GDP, GDP growth, GDP forecast

The Economy, Trade and Agriculture Ministry has estimated the gross domestic product growth in 2019 at 3.3%.

The ministry has said this in a statement, Ukrainian News Agency reports.

According to the report, the drivers of the growth changed.

The growth of the consolidated index of the production of goods and services decreased substantially within the major types of economic operations to 1.6% in 2019.

It even fell during the last months of 2019.

First of all it happened at the expense of the production sector.

Besides, despite another record broken in the volume of crops harvested, agriculture slowed down.

Nevertheless, high domestic demand generated high indicators in construction, trade and a number of servicing sectors.

The key factors that influenced on the economic operations in 2019 were stably high investment activity; record-breaking crop harvest; weakening of the global demand against the background of escalation of trade wars; growth of purchasing power of the population; and strengthening of the hryvnia exchange rate.

In 2020, reformation in all sectors of economy, modernization of the industrial sector, and active renovation of infrastructure facilities will continue in 2020.

As Ukrainian News Agency earlier reported, the NBU is estimating the GDP growth in 2019 at 3.3%.

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